1. Population Growth
Canada’s population growth is causing to form more households. Its increasing population growth is contributed by various factors such as birth, death, and immigration.
Net immigration accounted for almost 2/3 of Canadian population growth today and expected to increase to 3/4 by 2031. Most new immigrants start of as renters, and eventually become home owners within six to ten years of moving to Canada.
2. Population Aging
Young people are less likely to live independently and more likely to share accommodations with families. As population mature and reached an age of independence and financial stability, the average size of households tend to fall. Empty-nester and one-person households become more common and couples with children are less common due to later marriages.
The number of Canadians aged 65 and older is growing, accounted for 15% of the population in 2011 and expected to rise to 25% in two decades. Cando markets are expected to increase in demand due to seniors will be downsizing to small and more convenient homes. The number of one person households has also increased to 28% in 2011.
3. Lower Tendency to From Households
A variety of social and economic factors drives demand down. These factors include attitudes towards marriage, level of income, mortgage rates. Repeated warnings are given to over-elevated household among first-time home buyers.
4. Condominium Market
The overbuilt and overpriced condominium market is posting a risk to the housing industry. The central bank brought awareness onto the Toronto condo market and the high level of unsold high-rise units in the pre-construction or under construction phases.
Canada’s population growth is causing to form more households. Its increasing population growth is contributed by various factors such as birth, death, and immigration.
Net immigration accounted for almost 2/3 of Canadian population growth today and expected to increase to 3/4 by 2031. Most new immigrants start of as renters, and eventually become home owners within six to ten years of moving to Canada.
2. Population Aging
Young people are less likely to live independently and more likely to share accommodations with families. As population mature and reached an age of independence and financial stability, the average size of households tend to fall. Empty-nester and one-person households become more common and couples with children are less common due to later marriages.
The number of Canadians aged 65 and older is growing, accounted for 15% of the population in 2011 and expected to rise to 25% in two decades. Cando markets are expected to increase in demand due to seniors will be downsizing to small and more convenient homes. The number of one person households has also increased to 28% in 2011.
3. Lower Tendency to From Households
A variety of social and economic factors drives demand down. These factors include attitudes towards marriage, level of income, mortgage rates. Repeated warnings are given to over-elevated household among first-time home buyers.
4. Condominium Market
The overbuilt and overpriced condominium market is posting a risk to the housing industry. The central bank brought awareness onto the Toronto condo market and the high level of unsold high-rise units in the pre-construction or under construction phases.